Best MT4 Brokers in Australia in 2026

Brokers we recommend

Comparison table

We rate brokers across 5 categories and 18 criteria, following a standardised methodology. Here are our overall and category-specific ratings:

• Score / 5
• Markets
• Platforms
• Funding
• Regulators

Introduction to MetaTrader 4

What is MetaTrader 4?

MetaTrader 4, also known as MT4, is a trading platform first released in 2005 by MetaQuotes Ltd, a software company with its roots in Russia. MT4 quickly surpassed rival platforms because it was free to use and offered a wide range of charting tools and trading scripts.

Is MetaTrader 4 still supported in 2026?

Yes, MT4 is still supported and widely used in 2026. In fact, it remains one of the most popular trading platforms to this day. MetaQuotes Ltd released MT5, the successor to MT4, in 2009, but supports and regularly updates both platforms.

Why do traders still prefer MT4 over MT5 or other platforms?

Beginners often prefer MT4 over MT5 because of its perceived ease of use. However, if you are new to trading, we would recommend opening an account with an MT5 broker like FP Markets instead. MT5 is faster and offers a wider selection of markets than MT4.

Is MT4 free to use and download?

Yes, MT4 is free to use and download for traders. MetaQuotes Ltd licenses MetaTrader 4 to brokers, who in turn offer the MT4 client terminal to their traders.

Choosing the right MT4 broker

What are the best MT4 brokers right now?

FP Markets, FxPro, and AvaTrade are amongst the best MT4 brokers for Australian traders in 2026. These brokers combine tight spreads, fast execution, and reliable customer support. FP Markets, headquartered in Sydney, stands out for its low-spread ECN accounts. AvaTrade caters to beginners with an intuitive user interface and ASIC supervision.

Do MT4 brokers support CFDs, Forex, and commodities?

Yes, all MT4 brokers allow you to trade across a wide range of markets and instruments. However, you'll need to consider each broker's offering, as coverage varies. FP Markets offers the widest selection of markets, from Forex to stocks, commodities, crypto, and government bonds. Please refer to the comparison table on this page for broker-to-broker comparisons.

Are MT4 brokers regulated, and which regulators are most trusted?

Reputable MT4 brokers are licensed by major financial authorities. In Australia, ASIC regulates the financial services industry, with a view to protect retail traders. Other respected regulators include the UK's FCA, CySEC in Cyprus, and DFSA in Dubai.

If you're based in Australia, you may open an account with either an ASIC-regulated broker or an offshore broker. Some offshore brokers, like FXCC.com, offer significantly higher leverage (up to 1:500) and negative-balance protection. However, you won't be covered by the Australian Financial Complaints Authority (AFCA).

Do all MT4 brokers offer the same spreads and leverage?

No. Spreads and leverage vary across brokers. ASIC-regulated firms like AvaTrade must comply with ASIC's 1:30 leverage cap for retail clients, while brokers with offshore entities like FP Markets or 4XC may offer up to 1:500 leverage or higher.

ECN accounts generally provide tighter spreads starting from 0.0 pips plus commission, while standard accounts offer fixed or variable spreads between 1 and 1.5 pips. As spreads vary in real-time, you'll need to visit each broker's website for the latest data.

Which MT4 brokers accept Aussie dollars?

If possible, open a trading account denominated in Aussie dollars to avoid FX fees on deposits and withdrawals. Three of the five brokers mentioned in this guide allow Australian traders to open and fund an account in Aussie dollars:

All of the brokers reviewed in this guide accept Australian bank transfers or cards. FP Markets, FxPro and 4XC go further by supporting PayPal and/or crypto for instant funding.

Which MT4 brokers have the fastest execution speeds?

Latency is the silent cost that can turn tight spreads into slippage. FP Markets covers the cost a New York VPS for high-volume clients who deposit at least AU$ 1,000, while FxPro hosts its MT4/5 servers in London's Equinix LD4. If milliseconds matter to you, test each broker's demo from Australia connection before funding a live account.

Which MT4 brokers are best for scalping or day trading?

Brokers that combine low spreads with unrestricted trading conditions are best for scalpers and day traders. FP Markets, 4XC, and FXCC allow scalping, hedging, and the use of Expert Advisors (EAs) without restriction. Their raw-spread accounts and low-latency infrastructure make them ideal for short-term trading strategies.

Which MT4 brokers are suitable for beginners?

If you're new to trading, we recommend AvaTrade.com for its intuitive platform, educational resources, and demo account. In addition, it offers negative-balance protection and local customer support, helping new traders learn safely before switching to live trading.

Choosing the right MT4 account

How do I open a live or demo account on MT4?

To open an MT4 account, choose a broker on this page and complete its online registration process. You'll need to provide identification documents to meet regulatory requirements. Once approved, your broker will email your MT4 login details, which are separate from your registration details. You can download MT4 and start trading through a live or demo account after that.

What's the difference between a standard, ECN, and raw-spread account?

A standard account usually offers wider spreads with no commission and is suitable for casual traders or beginners. ECN and raw-spread accounts have spreads from 0 pips plus commission, with quotes sourced directly from liquidity providers. ECN and raw accounts are best for experienced or high-volume traders who value transparency and low costs.

Which MT4 brokers offer zero-commission or ECN accounts?

FPMarkets.com provides ECN-style MT4 accounts with raw spreads and a fixed commission per side, from a low AU$100 deposit. FxPro.com and AvaTrade.com offer zero-commission accounts with slightly wider spreads, appealing to traders who prefer an all-in pricing model.

MT4 trading tips and tricks

What are Expert Advisors (EAs), and how do I install them on MT4?

Expert Advisors (EAs) are automated trading scripts that execute trades based on pre-determined rules. To install an EA, open MT4, go to File > Open Data Folder > MQL4 > Experts, and copy your EA file into this folder. After restarting MT4, the EA will appear in the Navigator panel under 'Expert Advisors'.

Can I trade automated strategies with MT4 brokers?

Yes, MT4 fully supports automated trading through EAs. However, you should be aware that some brokers, like AvaTrade, place restrictions on the use of certain EAs. If you prefer to trade without restrictions, visit FPMarkets.com or FxPro.com. FP Markets and FxPro are well-suited for algorithmic trading through their VPS offering and low-latency connectivity.

How can I backtest strategies on MT4?

MT4's built-in Strategy Tester allows traders to backtest EAs and indicators on historical data. Adjust parameters, timeframes, and instruments to assess an EA's performance before running it in a live environment. Backtesting will help you identify potential weaknesses and manage your risk.

Can I connect MT4 to TradingView or other charting tools?

MT4 doesn't directly integrate with TradingView, but many traders use both platforms side by side: TradingView for analysis and MT4 for execution. In addition, some brokers, like FPMarkets.com, allow you to trade directly from TradingView through a separate account.

Can I use MT4 brokers with copy-trading or social-trading platforms?

Yes. Many MT4 brokers support copy and social trading through third-party tools such as Myfxbook AutoTrade or ZuluTrade. Some, like AvaTrade, have an in-house copy-trading system directly integrated with MT4.

How to set up MT4

Can I use MT4 on a Mac?

Yes, you can download and install MetaTrader 4 on a Mac. We recommend downloading MT4 from your broker's website rather than a freely available version, as your broker's version will integrate better with their servers.

If you experience errors during the installation process, contact your broker's customer-support team for guidance, or take a look at our MT4 for Mac installation steps.

Can I use MT4 on my phone?

Yes, MT4 is available for Android and Apple devices. If you're keen to start trading, open an account with a broker first before downloading their MT4 app from the broker's website.

Is there a web version of MT4?

Yes, most brokers also allow you to trade via a web version of MetaTrader 4. This can be convenient if you need to trade discreetly from the office, an Internet café, or a device where you lack installation permissions.

Conclusion

The right broker for you will depend on your trading preferences and experience. If ASIC regulation is non-negotiable, open a starter account with AvaTrade.com. However, if you prefer low spreads or high leverage, go with FPMarkets.com instead.

If you're unsure, or are looking to invest a large amount, why not run two small live accounts in parallel for a month to see which broker's pricing, execution, and service feel right before you scale up?

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